Farmers withhold pepper crop on subdued demand
The quality of new pepper arriving at the terminal markets has improved considerably with the reduction in the moisture content of the new crop.
The farmers, however, are holding back their produce and engaging in need-based selling due to subdued domestic demand, said Kishore Shamji of Kishor Spices.
This was evident in the Kochi pepper trade on Wednesday, which was down by ₹1 per kg with ungarbled varieties quoting at ₹318 a kg. The difference between the rates of ungarbled and new pepper was now ₹10 and is quoting at ₹308 per kg. MG1 garbled varieties stood at ₹338.
Tea companies may see profitability rise marginally in FY20
There might be a marginal improvement in the profitability of domestic tea producers in FY20, primarily on the back of an improvement in orthodox tea prices and input costs remaining soft.
However, wage rates would play an important role in determining their profitability in FY21.
Government reduces reserve price of rice, wheat
The government has cut sharply the reserve price of rice and wheat to help FCI offload bulk of its stock.
In the Open Market Sale Scheme (OMSS), rice will now be sold at ₹2,250/quintal against ₹2,785/quintal earlier.
The reserve price of wheat has also been cut. It is now ₹2,135/quintal. Originally, price for the January-March period was fixed at ₹2,245/quintal.
Already, the reserve price, both of rice and wheat, was way lower to the economic cost of FCI. Now, with the price cut, the gap has increased further.
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